Browns Investments Buys FLMC for Rs. 4.8Bn, Boosting Plantation Portfolio
- CNL Reporter
- May 6, 2025
- Business News
- Browns Investments
- 0 Comments
Browns Investments PLC (BIL), the investment arm of LOLC Group, has acquired FLMC Plantations Ltd. for Rs. 4.8 billion, marking a major expansion in its plantation holdings.
The acquisition, finalized through a share purchase agreement with Damro Manufacturing Ltd. and Piyestra Furniture Ltd., gives BIL control over Pussellawa Plantations Ltd. (PPL) and Melfort Green Teas Ltd. PPL manages over 11,500 hectares across 24 estates, producing 4.3 million kilograms of tea and 2.3 million kilograms of rubber annually.
Strategically located in key tea regions like Nuwara Eliya, Kandy, and Sabaragamuwa, the estates significantly enhance BIL’s agricultural footprint. LOLC Group CEO Kapila Jayawardena called the move a milestone in the group’s long-term vision of diversification and sectoral leadership.
With the addition of Pussellawa Plantations and Melfort Green Teas, we are not only expanding our footprint in Sri Lanka’s premier tea-growing regions but also enhancing our ability to supply premium-quality tea to global markets, he added
